India set to pay for Iranian oil using rupees from November

22 Septembre, 2018, 18:38 | Auteur: Auguste Feret

The official said Iran is open to accepting rupee payment for oil and may use the money to pay for equipment and food items it buys from India.

As petroleum-related sanctions on Iran come into effect from November 4, Indian refiners will pay for oil in Indian currency using UCO Bank and IDBI Bank, according to a report by The Economic Times.

Tens of millions of India's citizens are Shiite Muslims.

Earlier this year, US President Donald Trump announced new sanctions against the country after the withdrawal of an worldwide nuclear deal with Iran.

India is in touch with both Iran and the United States on the complex issue. India has increased oil purchases from Iran to almost pre-2012 levels after sanctions were lifted, and in May 2016 India agreed to transfer to Iran about $6.5 billion that it owed for Iranian oil shipments but which was held up for payment due to sanctions, it said.

‘AGT’ Finalist Michael Ketterer Arrested
Ketterer's charges will likely be downgraded to a misdemeanor because his wife's injury was minor. He collaborated with Garth Brooks at Cowell's request on a song for AGT's season finale.

Mourinho believes France’s World Cup success gave Pogba a boost
A team that yesterday looked very bad, today looks very good, and one that yesterday looked very good, today looks very bad. Merson is expecting United to defeat Wolves by 3 goals to 1 when both teams clash at the Old Trafford.

Oscars 2019: Village Rockstars selected as India’s official entry
India, on Saturday, picked Village Rockstars as its official selection for the Oscars' Foreign Language film race. However, the Rajkummar Rao , Anjali Patil and Pankaj Tripathi starrer didn't make it to the final nominations.

"Chabahar is a very important project for us, not only for access to Afghanistan and Central Asia, but also for Afghanistan itself", he said, adding that the development of the port figured in the high-level talks between India and the United States in New Delhi earlier this month.

Work was slowed by the difficulty equipment suppliers had in obtaining financing for the project, a effect of hesitancy among banks about whether the U.S. might still try to sanction the project.

Earlier, India was looking at the possibility of falling back on the rupee-rial arrangement for importing oil from Iran in the wake of USA sanctions. India has been working through diplomatic channels to look at the U.S.to grant exceptions from the upcoming sanctions. The countries' diplomats say they fear the play will backfire, allowing Iran to blame an outside entity for the country's issues. UCO Bank has handled similar transactions in the past, hence it will be the preferred bank. New Delhi has said that technical configuration of many refiners makes it dependent on Iran. According to data from Reuters, India is set to take 360,000-370,000 b/d of Iranian oil on average in September and October, compared with 658,000 b/d during April-August.

Iranian oil exports have dropped ahead of sanctions as several countries have begun to curtail their purchase from the Middle-East producer.

Conseillé:

  • Cross Country franchise competition dropped because of rail review

    Cross Country franchise competition dropped because of rail review

    Events and decisions taken before January meant it was "probably unavoidable" that the launch would fail, according to the report. This meant that staff worked in very hard circumstances to do as good a job as possible and I thank them for their efforts'.
    Harvick to start from pole | Racing

    Harvick to start from pole | Racing

    ET on NBCSN , with the first race of the Xfinity Series Playoffs, and culminates Saturday at 7:30 p.m. But he's won three times at the 0.75-mile track about 20 miles from where he grew up.
    Pays-Bas. Quatre enfants tués dans une collision avec un train

    Pays-Bas. Quatre enfants tués dans une collision avec un train

    Un autre enfant et un adulte, la conductrice du vélo, se trouvent dans un état critique à l'hôpital, selon la police. Le Premier ministre néerlandais et le couple royal ont exprimé leur douleur et leur soutien aux familles.
  • Texas Rangers Fire Manager Jeff Banister After Losing Seasons

    Texas Rangers Fire Manager Jeff Banister After Losing Seasons

    This organization is very appreciative of what he has contributed to the club on the field and in the community. The Texas Rangers just announced that they have fired Jeff Banister as the team's manager.
    Tennis - WTA - Tokyo - Tokyo: Naomi Osaka sprinte vers la finale

    Tennis - WTA - Tokyo - Tokyo: Naomi Osaka sprinte vers la finale

    Inarrêtable Naomi Osaka , la Nipponne se qualifie pour la finale du tournoi de Tokyo ( Premier ). Mais au moins vous savez que vous pouvez tout donner.
    Barrier Reef tourists warned after 2 shark attacks in 2 days

    Barrier Reef tourists warned after 2 shark attacks in 2 days

    A 12-year-old is in a serious condition after being attacked by a shark - the second incident in 24 hours at the tourist spot. . The Royal Flying Doctor Service delivered her to the specialist care she needs after her holiday turned to horror .
  • Former Google CEO predicts two internets in a decade

    Former Google CEO predicts two internets in a decade

    These email demands include "pixel trackers" which notify the Human Resources department that they have been read. Then on September 14th, it was reported that Google would track users using their phone number.
    UP women's tennis talks Women's US Open

    UP women's tennis talks Women's US Open

    Things might not have gone completely the way Naomi Osaka had dreamed or imagined they would after winning her first U.S. Although she insisted she was not cheating, her coach admitted afterwards he had been coaching from the sidelines.

    Les jeux PS4 et PS2 sont désormais téléchargeable — PSNOW

    Sony tente aujourd'hui de corriger ce problème en permettant aux utilisateurs de directement télécharger les jeux sur leur PS4. Néanmoins, il est nécessaire d'être connecté à Internet et de disposer d'une solide connexion.
  • 'Firenado' sucks up firefighter's fire hose

    'Firenado' sucks up firefighter's fire hose

    Eventually the firenado grew to over 200 feet tall, she added, but the smoke was too thick to see it clearly in the video. Skrepnek said it's not actually a tornado, but more similar to a water spout or dust devil that lasts a few seconds.
    Israel fortifies nuclear facilities in response to Iran’s ‘outrageous threats’

    Israel fortifies nuclear facilities in response to Iran’s ‘outrageous threats’

    He also noted Syria's "undeclared, secretive military nuclear reactor at Dair Alzour", which Israel bombed more than a decade ago. Iran's reinforcement of Damascus during Syria's civil war is seen by Israel as a further deployment on their borders.
    Le gouvernement réclame entre 3 et 3,9 milliards d'économies — Assurance chômage

    Le gouvernement réclame entre 3 et 3,9 milliards d'économies — Assurance chômage

    Les négociateurs patronaux et syndicaux ont discuté de l'assurance chômage avec le gouvernement au ministère du travail vendredi. Pour justifier son objectif, le ministère a rappelé la dette de l'Unédic qui a atteint 35 milliards d'euros.


Populaire

Insurance giant adds fitness tracking to all its policies
Vitality uses premium discounts and gift cards to encourage users to keep up healthy habits. On the surface at least, it looks like a win-win scenario.

Judge OK's NY inmate-artist's release from murder sentence
Mr Dixon's mother, Barbara Dixon, said she was in shock after relying on her faith while fighting for his release. As Max Adler writes at the magazine, that's what's happened with the case of Valentino Dixon, though.

24 morts dans un attentat, Téhéran accuse un allié de Washington — Iran
Ahvaz est situé dans la province du Khuzestan, théâtre de manifestations sporadiques de la minorité arabe vivant en Iran. Le Khouzestan a été l'une des régions irakiennes les plus touchées par les combats pendant la guerre Iran-Irak.

Joshua Weighs Heavier Than Povetkin At Title Weigh
Deontay Wilder will defend his WBC heavyweight title against Tyson Fury on December 1 at a venue yet to be confirmed. . The fight has a reported £26m purse with Joshua expected to take home up to £20m while Povetkin will receive £6m.

Watch a new If Beale Street Could Talk trailer
Based on a James Baldwin novel, " If Beale Street Could Talk " chronicles Tish and Fonny, a young black couple in 1970s Harlem. If Beale Street Could Talk will be released to select theaters by Annapurna Pictures on November 30.

Un million d'emplois? Le patron d'Alibaba renie sa promesse à Trump
Jack Ma a affiché sa volonté de désormais s'engager dans des oeuvres philanthropiques, notamment en matière d'éducation. Engagée par Donald Trump , la guerre commerciale sino-américaine a connu une escalade ces derniers mois.

La SQ recherche un témoin important — Enlèvement
Il s'agit de la fourgonnette Dodge Caravan de couleur pâle qui avait été aperçue par des caméras de surveillance d'un commerce. Les démarches des policiers ont toutefois permis de localiser rapidement la jeune fille dans la municipalité de Sutton.

États-Unis : une directrice de garderie droguait et attachait les enfants
Des enfants ont été retrouvés drogués et attachés à des sièges automobiles avec de la corde autour de leur cou. Les faits se sont déroulés dans la ville de Mesquite, au Texas, dans la garderie " Becky's Child Care ".

Sanctions américaines: Moscou accuse les Etats-Unis de menacer "la stabilité mondiale"
Il s'agit des premières sanctions contre un gouvernement étranger pour l'acquisition de matériel de défense auprès de la Russie. Annoncées jeudi soir, ces sanctions ont été accueillies avec fureur à Pékin.

Gunmen attack military parade in Iran's Ahvaz
Early reports Saturday described the assailants as "Takifiri gunmen", a term previously used to describe the Islamic State group. ISNA published photographs of the attack's aftermath, with bloodied troops in dress uniforms helping each other walk away.